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Laurence DAURES

Professor
department: Finance
Campus de Cergy
daures@essec.edu
+33 (0)1 34 43 33 62
Market Microstructure – Corporate Finance – Financial Markets & Institutions
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Career
Biography

Laurence Daures (previously Lescourret) is Professor of Finance. Her research lies in the area of microstructure of financial markets. Laurence received the PhD Thesis Award in 2004 from the French Finance Association and the National Foundation for Companies Management Academic Education (FNEGE), the "Joseph de la Vega Prize" in 2013 and the IFSID award for the best paper on Derivatives in 2015. She received several research grants from Euronext Paris (2007) , EIF (2008, 2010, 2020) , the French National Research Agency (PRC 2024, JCJC 2011) and INEX (Initiative d'Excellence, 2018).

She serves on the Board of Directors of Dassault Systèmes and of LCL (Le Credit Lyonnais). She sits in the audit committee of Dassault Systèmes (DS) and chairs the compensation and nomination committee of DS. She sits in the risk committee of LCL and chairs the audit committee of LCL.

Laurence holds a PhD in Finance from HEC Paris.

Personal Homepage

Diplomas

  • 2024: Habilitation à diriger des recherches, Finance (Université Toulouse I Capitole France)
  • 2003: Ph.D. in Finance (HEC Paris France)
  • 1999: M.Sc. in Economics (APE) (EHESS – École des hautes études en sciences sociales France)
  • 1997: M.Sc. (Research) in Finance (Université Paris-Dauphine, PSL France)
  • 1996: Master in Management (EDHEC Business School France)
Career
Full-time academic appointments
    • 2024 – Now : Professor (ESSEC Business School France)
    • 2008 – 2024 : Associate Professor (ESSEC Business School France)
    • 2004 – 2008 : Assistant Professor (ESSEC Business School France)
Other appointments
    • 2016 – 2018 : Head of the ESSEC Center of Excellence “Capital Markets and Regulation” (ESSEC Business School France)
    • 2016 – Now : Visiting researcher (Bundesbank Germany)
    • 2011 : Visiting Professor (Imperial College Business School United Kingdom)
    • 2010 – 2011 : Head of the Finance department (ESSEC Business School France)
    • 2007 – 2010 : Co-Head of the Finance department (with José Miguel Gaspar) (ESSEC Business School France)
    • 2004 – Now : Research fellow (Centre de recherche en économie et statistique (CREST) France)
    • 1999 – 2004 : Research team member (Centre de recherche en économie et statistique (CREST) France)
Other Academic Appointments
    • 2002 – 2004 : Teaching Assistant in “Financial markets” and “Introduction to Microeconomics” (Université Cergy-Pontoise France)
    • 2000 – 2010 : Lecturer in “Microstructure of Financial Markets” (L’École nationale de la statistique et de l’administration économique (ENSAE) France)
    • 1999 – 2000 : Teaching Assistant (Introduction to Financial Theory – Undergrade) (HEC Paris France)
Professional appointments
    • 1997 – 1998 : Consultant, Middle Office (SGCIB South Africa)
Distinctions

Grants

  • 2024 : Research Grant PRC (ECLIPSES) (Agence Nationale pour la Recherche (ANR), France)
  • 2020 : Research grant for a project on CDS (joint with A. Fulop and Y. Gündüz) (Institut Europlace de Finance (IEF), France)
  • 2018 : Research Grant INEX (Initiative d’Excellence) (CY Cergy Paris University, ENSEA, CNRS, ESSEC Business School)
  • 2011 : Research Grant JCJC (Jeunes Chercheuses Jeunes Chercheurs) (Agence Nationale pour la Recherche (ANR), France)
  • 2010 : Research grant for a research project on inventory management across different trading platforms (joint with S. Moinas) (Institut Europlace de Finance (IEF), France)
  • 2008 : Research grant for a research project on liquidity externalities (joint with JM Gaspar) (Institut Europlace de Finance (IEF), France)
  • 2007 : Research grant from Euronext Paris for a research project on the Credit Default Swap market (joint with A. Fulop)

Awards

  • 2021 : White Project – ESSEC Foundation (France)
  • 2015 : Best Paper Award on Derivatives, IFSID, Montreal Institute of Structured Finance and Derivatives, Northern Finance Association Annual meeting, for the article “Transparency Regime Initiatives and Liquidity in the CDS Market”.
  • 2013 : De la Vega Prize 2013 by the Federation of European Securities Exchanges for the paper “Liquidity Supply across Multiple Trading Venues” (coauthored with S. Moinas)
  • 2004 : Winner of the “Prix de Thèse FNEGE-AFFI 2004” for the doctoral dissertation (Fondation Nationale pour l’Enseignement de la Gestion des Entreprises (FNEGE), France)
Research

Journal articles

Conference Proceedings

Presentations at an Academic or Professional conference

Teaching
Other activities
Research activities
  • Organization of a conference or a seminar
    • 2023 – 2023: Co-Organizer of the 3rd Workshop: New Developments in Over-the-Counter Markets (Central European University – ESSEC Business School Hungary)
    • 2019 – 2019: Co-organizer of the 2nd Workshop Banque de France-ESSEC “OTC Market: Recent Advances in Research”
    • 2015 – Now: Co-organizer and co-founder of “Women in Microstructure”- WIM meeting: Online (2021), Online (2020), Huntington (2019), Coronado (2018), Whistler (2017), Utah (2016); Seattle (2015)
    • 2014 – 2014: Co-organizer of the Banque de France-ESSEC workshop “OTC Market: Recent Advances in Research”
    • 2010 – 2010: Co-organizer of the ESSEC-HEC-INSEAD-PSE Workshop on Financial Economics
    • 2006 – 2015: Organizing the ESSEC Finance Seminar series (ESSEC Business School France)
    • 2001 – 2001: Co-organizer of the French Finance Association Meeting (Association Française de Finance (AFFI) France)
  • Role as an expert or appraisor in a research organization
    • 2020 – Now: Reviewer for the Swiss Agency for Development and Cooperation SDC ( Switzerland)
    • 2020 – Now: Evaluateur externe pour la Swiss National Science Foundation ( Switzerland)
    • 2018 – Now: Reviewer for Agence Nationale pour la Recherche ( France)
    • 2007 – Now: Reviewer for SSRHC (Canada) ( Canada)
  • Member of an academic association
    • 2015 – Now: Member of Western Finance Association
    • 2004 – Now: Member of American Finance Association
    • 2004 – Now: Member of Northern Finance Association
    • 2004 – Now: Member of European Finance Association, EFA
    • 2004 – Now: Member of French Finance Association, AFFI
  • Participation in scientific commissions or reviewer for a conference
    • 2015 – 2019: Member of Program Committees for the annual meetings of: Finance Down Under (2019, 2018, 2017, 2016, 2015)
    • 2015 – 2017: Member of Program Committees for the annual meetings of the International Workshop on Financial Markets and Nonlinear Dynamics (2017, 2016, 2015)
    • 2014 – 2016: Member of Program Committees for the annual meetings of European Finance Association (2016, 2015, 2014)
    • 2001 – Now: Member of Program Committees for the annual meetings of the French Finance Association (Dec. 2020, Dec. 2019, Dec. 2018, Dec 2017, Dec 2016, May 2016, Dec 2015, May 2015, Dec 2014, Dec 2013, Dec 2010, Dec. 2009, Dec. 2008, Dec. 2004, Dec. 2001)
  • Other academic activity
    • 2015 – 2018: Member of the jury of the De La Vega Prize (Federation of European Stock Exchange)
    • 2008 – 2008: Member of the jury “Euronext-AFFI” for the best doctoral dissertation
  • Reviewer for a journal
    • Reviewer for Annales d’Économie et de Statistique; Banque et Marchés; Empirical Economics; European Financial Management; Finance; Finance Research Letters; Financial Review; Journal of Banking & Finance; Journal of Empirical Finance; Journal of Financial Markets; Management Science; Quantitative Finance; Review of Finance; The European Journal of Finance
Professional activities
  • Member of a professional association, of an expert group or of a board of directors
    • 2017 – Now: Independent board director, risk committee member and chair of the audit committee (LCL (Le Crédit Lyonnais) France)
    • 2016 – Now: Independent board director, audit committee member, and chair of the compensation and nomination committee (Dassault Systèmes France)
Services
    • 2011 – 2017: PhD academic coordinator (Finance concentration) (ESSEC Business School France)
    • 2007 – 2010: Academic coordinator of the ESSEC Finance Track (ESSEC Business School France)
    • 2007 – 2011: Member of the Board of overseers (ESSEC Business School France)